Resources
Current Issues
For further advice on any of these topics, please get in touch with your usual Shipleys contact or email advice@shipleys.com
08 Feb 2012
The rules regarding pre-owned assets are very complicated but their effect is to impose an income tax charge on the perceived benefit from the 'pre-owned' asset. Read our detailed analysis here. ... More
13 Jan 2012
Compulsory online filing of VAT returns was implemented with effect from 1 April 2010 for all new VAT registrations and for businesses already registered for VAT. ... More
06 Jan 2012
We look at whether hot takeaway food should be zero rated for VAT, what the current position is and the issues surrounding it. ... More
20 Dec 2011
We look at the expected changes in the Law surrounding Low Value Conignment Relief for VAT. ... More
02 Dec 2011
The Finance Act 2011 has made further changes to the pension tax rules. ... More
29 Nov 2011
Residence in the UK for tax purposes
A new statutory set of rules are proposed, to apply from 6 April 2013, to determine UK tax residence. The current rules will continue to apply for tax years prior to the introduction of the statutory test, including 2012/13. Initially the new rules were to have applied from 6 April 2012 but the Government has decided that further consultation is required. ... More
10 Nov 2011
We look at the impact of tax on a divorce settlement in particular the Capital Gains Tax considerations for any transfers between spouses following permanent separation. ... More
04 Nov 2011
IFRS 10 Consolidated Financial Statements
We look at the IFRS 10 Consolidated Financial Statements. ... More
03 Aug 2011
We take a look at HMRC's change of policy relating to the VAT treatment of salary sacrifice arrangements which will be brought into effect from 1 January 2012. ... More
22 Jul 2011
Should you be registered for VAT?
HMRC wants to ensure that everyone who should be registered for VAT is. We look at how this could affect your business. ... More
04 Jul 2011
We look at recent news and developments in the Charity and Non-Profit sector ... More
20 Jun 2011
We look at the tax issues surrounding Real Estate in the UK, in particular Residence and Domicile, and the taxes related to the acquistion and sale of Property. ... More
18 Jun 2011
Financial Services - Implementation of CMAR and Updates to COLL
We look at the implementation of Client Money Asset Return and recent changes to the Collective Investment Sourcebook. ... More
15 Jun 2011
Charity Update - Changes to the Law
This article discusses recent changes in the law that may affect the Charity and Non-Profit sector. ... More
15 May 2011
Charity Update - The 2011 Budget
We look at the key changes for charities announced in the 2011 Budget. ... More
14 May 2011
Non UK Domiciliaries from 6 April 2008
A summary outlining major tax changes that apply from 6 April 2008 and affect those resident in the UK but not domiciled or not ordinarily resident ... More
06 Apr 2011
Research and Development (R&D) relief was introduced to encourage companies to invest in the advancement of technology and science. ... More
23 Mar 2011
A summary of the Chancellor's budget. It contains information about VAT, personal tax, corporation tax, pensions and capital gains tax. ... More
02 Mar 2011
As the personal allowances,income tax bands, NIC rates and NIC thresholds for 2011/12 are already known,individuals and trustees may wish to review the scope foraction either to save or delay tax liabilities. This article discusses all the issues. ... More
17 Feb 2011
New requirements to file accounts and corporation tax returns on-line mean that these are likely to be more expensive to prepare in the future. This article explains the changes in more detail and identifies what action may be appropriate. ... More
29 Jan 2011
Charity Update - 09 March 2011
This article outlines the recent developments in the charity and not for profit sector. ... More
13 Jan 2011
An outline of the VAT laws surrounding mail delivery services. ... More
21 Oct 2010
This discusses in detail the Exposure Draft/2010/4 Fair Value Option for Financial Liabilities. ... More
21 Sep 2010
This discusses the proposed amendments resulting from the first stage of reviewing the IMA SORP 2008. ... More
04 Aug 2010
It was recently announced that cheques are due to be phased out by 2018, leaving many businesses with the decision of finding an adequate replacement. Legal firms are set to be affected by this change as a significant number of their clients pay by cheque. This article discusses all the options. ... More
22 Jun 2010
A summary of the Emergency budget. It contains information about VAT, personal tax, corporation tax, pensions and capital gains tax. ... More
02 Jun 2010
Capital Gains Tax - Run for Cover
The new coalition Government has begun to announce changes which are likely to feature in the emergency Budget in the 22 June. This article discusses the issues in detail. ... More
19 May 2010
This summary of recent developments in the Charities and Non Profit sector includes information on Charitable Incoporated Organisations and Gift Aid. ... More
01 Apr 2010
International Financial Reporting Developments
A Summary of International Financial Reporting Standards (IFRS) Developments ... More
01 Apr 2010
A summary of recent FSA updates including information about proposed changes to Collective Investment Schemes Sourcebook (COLL), regulatory Reporting for Investment Firms and regulatory fees. ... More
01 Apr 2010
This summary explores the requirements concerning liquidity resources for banks, building societies and investment firms that came into force on 1 Dec 2009. ... More
23 Mar 2010
Important Changes - Cheque Payments by Post
An announcement was posted on the HM Revenue & Customs website on 25th February 2010 notifying a change of policy regarding the date that cheque payments sent by post are deemed to have been received. ... More
20 Mar 2010
A summary of the initiatives HMRC is introducing to harmonise the multitude of penalty regimes that apply to the various taxes and duties it administers. ... More
20 Mar 2010
HM Revenue & Customs has announced the introduction of simplified partial exemption de minimis tests. These will enable businesses to work out whether or not they can treat themselves as fully able to recover input VAT without having to perform a full partial exemption calculation. ... More
01 Mar 2010
HM Revenue & Customs is continuing to update the penalty regime in respect of indirect taxes and is introducing a 'VAT and Excise Wrongdoing Penalty' with effect from 1 April 2010 ... More
04 Feb 2010
This summary outlines the problems relating to reclaiming foreign VAT and how to overcome them. ... More
26 Nov 2009
The return of the UK standard rate of VAT to 17½% on 1 January 2010 has been widely criticised, this article highlights some of the finer points. ... More
24 Nov 2009
VAT Registered businesses should be aware of the rules relating to the increase of VAT back up to 17½%. ... More
29 Sep 2009
A summary of recent changes affecting charities and Non-Profit organisations including information about Gift Aid, Fraud and Public Benefit Reporting. ... More
28 Sep 2009
The FSA has proposed amendments to its Collective Investment Schemes Sourcebook (COLL) which are in part aimed at removing inconsistencies between COLL and the IMA SORP which have emerged since the implementation of the SORP from January 2009. ... More
15 Sep 2009
Cross Border VAT Changes from 1 January 2010
A summary of the cross- border VAT changes that are coming into place from the 1 January 2010, relevant to any business that makes intra EU supplies of services or has incurred VAT in other EU countries. ... More
28 Aug 2009
This summary examines the seven key principles of good governance discussed in the "Code of Good Governance" for the Voluntary and Community Sector. ... More
28 Aug 2009
Tax Amnesty for Off-Shore Savings
Individuals with unpaid taxes linked to offshore accounts or assets are being given a second and final chance to settle their tax liabilities at a favourable penalty rate. ... More
30 Jul 2009
HM Revenue & Customs has announced plans to phase out paper VAT returns with effect from 1 April 2010. From that date all new VAT registrations and all existing VAT registrations with turnover of more than £100,000 will be obliged to file online. ... More
12 Jun 2009
If you occasionally import or export goods to or from the EU, new VAT rules apply from 1st July 2009. ... More
02 Mar 2009
Statement of Recommended Practice
The IMA SORP 2008, issued on the 10 November 2008, replaces the SORP 2005 and is applicable to accounting periods beginning on or after 1 January 2009. The main changes and areas of particular interest are summarised here. ... More
20 Feb 2009
Three ways to make it easier for small businesses
If your annual turnover (excluding VAT) is £1,350,000 or less you may be eligible to calculate your VAT payments using the cash accounting VAT scheme. ... More
15 Feb 2009
The VAT penalty system and the VAT error threshold have both been amended resulting in a regime that requires fewer errors to be separately disclosed to HM Revenue & Customs but a greater risk of being penalised for making mistakes. ... More
24 Apr 2008
Capital Gains Tax from 6 April 2008
A summary of how the new 18% flat rate of Capital Gains Tax, which applies to disposals from 6 April 2008 by individuals, trustees and executors will affect investors. ... More
13 Dec 2007
Arctic Systems and Income Shifting
On 25 July 2007, The House of Lords found in favour of the taxpayers Mr & Mrs Jones in the widely publicised tax case known as "Arctic Systems". ... More